Cable Update (GBPUSD)

GU 1

Perhaps??

Hi guys
Added 4 more limit shorts from 6450-65 in case spikes and going to sleep letting this baby go its destination south.
Weekly candle is almost engulfing indicating a bear momentum. On Weekly chart RSI still has room to reach 50 and most likely 6280 will be hit by Friday.
My only regret is my positions are lighter then last time around.
Daily Price is about to break Guppy slow moving averages which to me is significant solidifying overall Bear momentum.
on Bollinger Bands once price goes under 20MA usually it reaches lower band before sprinting up.I use 2nd and 3rd deviations.

I took a small buy here at 63517. We'll see how this plays out.

If this is still a bear, I plan to dump out around 6340.

Cable here at low prices. Whether that means it's due to trade lower into London opening or not, it has been showing signs of strength, albeit they're minor.
USD could push this lower, but I'm expecting the UK announcement tomorrow to display hawkish sediments, which has been their status quo lately.
Long here, TP @ 1.64

If you look at last five years on weekly monthly charts cable certainly not a low price now rather top price.
To me low price for cable is under 1.55
200SMA institutional barometer is at 5763 which is the equilibrium fair value for cable.
Regards

This is what I'm looking at for the moment.



I still think we can get down to the 6220ish area, but I'm hoping this is the bottom here. If not, I'll not lose anything tonight as my stop was moved to buy entry.

That's on the weekly.

On the other hand, if you look at the monthly 200SMA, it's where we just bounced, which is 1.66.

If 1.66 is fair value, looking at the monthly, then cable is cheap right now.

Guess it just depends on your perspective.

That was a nice little surprise move up.

Moved my stop to +10 pips.

That was fast. Got stopped out.

If we go up from here, I'm not going to be happy they came down to my stop and then went up. Grrrr

Edit: Well, we moved all the way back down to my buy entry. I'm tempted to buy again, but I'm not going to tonight. Not feeling it either way now. The quick down, then the quick back up, then the quick down again has me confused.

Buy activated at 1.6360 Wish me luck guys

kicked out

Perhaps b cause...

will have to wait and see...

If I was going to be awake to monitor this, I'd be a buyer right about now.

Sadly, I need sleep and don't trust the stops.

i am stil short hope fully reach target @ 1.6250

Closed for +83

the drop just started

Finally broke through 1.6314 but it's still struggling. Expect it to go through it and close below it very soon

Shorts open at 6345 and 6340.

Hmm I dont know about shorting this

my favourite kind...

Hello thread readers,

is there any support here or will it drop to next support ? 38.2% of the 5853-6603 move here as well right now and in the lower zone 50% of that move. 4hr shown

Best Wishes.